European firms commit to Bay Partners tech fund

Danske Private Equity, part of the Danske Bank group, is one of three European firms to have invested in the latest fund of Bay Partners, the US start-up technology venture capitalist.

Bay Partners has just closed its tenth fund, having raised $475m (€519m). Joining Danske in the fund is CDB Webtech, the Italian venture capital group, and UBS' pension fund. Adding to the non-US involvement in the fund are Japan Telecom, NEC and Kyocera, a maker of electronics and high tech goods.